Common use of Loaned Equipment Clause in Contracts

Loaned Equipment. 16.1 Subject to JJM’s prior written confirmation and agreement (including the Maximum Quantity of Goods), JJM will loan to the Customer the Goods specified by the Customer in an Order for the loan of Goods provided that: (a) the number of Goods required by the Customer in the Order will not result in the Customer having possession of more than the Maximum Quantity of Goods; (b) title in the Goods remains vested with JJM; and (c) risk in the Goods passes to the Customer in accordance with clause 7. 16.2 The Customer must, in respect of the Goods loaned to the Customer by JJM: (a) store the Goods (at no cost to JJM) on the Customer’s premises; (b) store each Good to use according to the Good’s labelling and other manufacturer conditions supplied with the Good; (c) maintain the Goods in satisfactory condition; (d) as soon as practical after Goods have been used, consumed, lost or damaged place a purchase order with JJM for such Goods including the relavant code and quantity; and (e) indemnify JJM for any loss or damage of the Goods while they are in possession of the Customer.